Upgrade to 2016 R6 for Payroll year end 2015-16
 
ImportantPlease do not submit your final submission for payroll year 2015/16 with a version/release lower than QuickBooks 2016 R6, the estimated release of which is March 17 2016. 
 
At tax year 2015/2016 the final submission to HMRC reversed the employment allowance information sent to HMRC from ‘YES – claiming/claimed’ to ‘NO - not claiming/claimed’. The reversing of the employment allowance has been fixed in the QuickBooks 2016 R6 the estimated release of which is 17 March 2016. 
 
Note: all releases of QuickBooks 2015 and 2016 currently carry the reversing of the employment allowance when a final submission is made. Its advised payroll users should upgrade to QuickBooks 2016 and ensure auto update is turned on ready to auto install release 6 before proceeding with payroll year end 2015’16.
 
Ensure you are on the correct version 
 
To check your version, open QuickBooks and press the F2 button on your keyboard.  The Product Information screen will appear, your release number will be shown at the end of the top line.
 
TIP: QuickBooks 2016 R6 also ensures the declaration questions do not need to be answered this year as they have been removed from R6. Finally always take a back-up of your data before updating your software.   

 

Order Stationary and check data

You can order free P60s directly from HMRC online or by calling 0300 123 1074.  It is not possible to download the P60, forms must be used.

 TIP:  Order extra copies to allow for printing errors

 

Run Final Payroll

  • Run payroll as usual, this must be done on or before the final payment date.  Ensure you submit the corresponding FPS and an EPS where necessary.
  • After you have upgraded to QuickBooks 2016 R6 go to the Employees menu, select Payroll forms then Process Payroll Year End.
  • Ensure you have selected the Payroll Year as 2015/2016.
  • Check the employees you wish to process and select Review P60 Data. Select Next to review the P60s for all selected employees and then OK once you have finished.
  • Select Submit Final Submission and submit.  
  • Select Print P60 forms, load the stationary into your printer and click Print.  Once you have printed the forms, we recommend also making a PDF copy for your records.  You can do this by selecting a PDF printer at the point of printing.

 

New Tax Year 2016/17: Tax Code Uplifts

There will be an uplift to tax codes with the suffix ‘L’, ‘M’ and ‘N’.  E.g. Add 40 to any tax code ending in L. So ‘L’ code 1060L becomes 1100L. There is no ‘global uplift’ feature in QuickBooks, employee tax codes must be changed individually on their employee record.

 

Adjusting Figures After Year End

When you adjust any individual payments an Earlier Year Update (EYU) is automatically generated by QuickBooks. Submit the EYU from the Employees menuRTI and selecting Submit FPS/EYU.

 

Key Dates


Before 5 April 2016 - Update to QuickBooks 2016 R6.

5 April 2016 - Last payment date and FPS submission date for payments to be included in 2015/16.

6 April 2016 - Start of the 2016/17 tax year.  

22 April 2016 - Last date for electronic payments by employers to HMRC.

31 May 2016 - Deadline to issue P60s to employees.